March 30, 2023
Currency International

Egypt’s Pound Drops Significantly After Its Devaluation In October

The currency had its worst decline since the Central Bank of Egypt devalued the pound in late October in an attempt to seal the IMF agreement, falling 6% to 26.4 to the US dollar. Wednesday’s decline coincides with the blocking of billions of dollars’ worth of shipments at Egyptian ports due to local banks’ inability […]

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